Member Info for damofarl

Londoner7; thanks your comment as always.

I was interested in your comment regarding Deleks desire for income and Eni's for growth. This from Eni's website, confirming the passing of the deal, very much supports your comment - it consistently mentions growth, and that it is a long term supportive holder - I actually interpreted the strength of their stance as to suggest that ultimately, they wouldn't be averse to owning all of ITH.

https://www.eni.com/en-IT/media/press-release/2024/10/eni-completion-combination-eni-s-uk-upstream-operations-with-ithaca-energy.html

I rather think the dividend is jam today.......

Judging by the thoughts on here, I seem in a minority in being happy with the update. Key for me, was this from the transcript of the AGM:

"...........We are in a strong position and we are committed to staying that way. Our dividend is material and sustainable, and our financial strength positions us to take advantage of the opportunities ahead, both organic and inorganic. And there are plenty of both, even at a lower oil price.".

That's quite ebullient on both the dividend, and progress at low oil prices.

I do think an SQZ/ITH combination makes sense, securing economies/efficiencies, as well as skill sets within staff/supply chains. That's the dream for me, maybe added to by HBR divesting their 'unloved' UK assets, in exchange for an equity stake in a new combined SQZ/ITH/HBR UKOIL company called North Sea Oil Plc?

NewKOTB; tax/levy is just another cost, like capex, or G & A that has to be managed, and I agree with you - this 'loss' is purely them 'managing' as a tax deferral. That professional investors/analysts can't look beyond a headline loss to see how focused and disciplined ITH mgmt are, leaves me agog.

Lse;

Thanks for the consolidation spot.

"...........However, these costs are ultimately expected to be non-recurring, and the Company acknowledges investor concerns that the project represents a drain on near-term free cash flow"

It's almost as if the Company is reading this thread. Pragmatic long term planning as ever, not jam today and bust tommorow.

PTAL - the long dollar, not the quick dollar.

Strictlybricks;

Good to see you here, I greatly appreciated your previous singular focus on housebuilders, which I found invaluable one enriching; I look forward to seeing the same focused reason, rational, and research in this sphere.

Personally I didn't think the offer from ENQ was generous or even fair value acknowledging, but not withstanding that, did feel SQZ would be greater for the sun of the parts. Feel the driver here was ENQ not SQZ and frankly, the reason, "EnQuest confirms that in light of current market volatility it has not been possible to reach an agreement on terms." is baloney. Market volatility is the day to day of oil/gas companies, and if a deal was valid, it's still valid through that cycle/volatility. Either ENQ wanted to low ball more opportunistically, or SQZ, stood fast. Which we will never know but I hope (and believe), it's the latter.

SQZ didn't need this deal, a deal at any price, and the relative reactions in SP's shows that. That it reiterates that it is looking for/will do a deal is a positive. That it won't do so at any price is a positive.

Stand alone, as is, SQZ is a positive. Let's keep those positives to ourselves

The increase in NAV here is really impressive, considering each healthy dividend, being NAV linked should reduce/hold the NAV.

Stocks like this, where well managed, thrive on volatility being able lo lock into better rates, and with the truity of the NAV constantly demonstrated, the SP NAV discount provides opportunity to lock in a great yield.

Still bullish on TORO after 10 years

With regard to the capex, I don't think will impact the dividend at all - they always managed studiously expenses, long been carrying gas plant costs etc; I believe there will be a small incremental increase, as the underlying pre MPNU business is performing. I see the capex as a great positive, in restoring MPNU output towards pre sale announcement levels, and as such negating the cost rapidly. I also think the optionality and efficiencies that the terminals offers SEPL in routes to markets, is an opportunity that has yet to be fully appreciated.

Been here a long time now, through large gyrations in SP; I focus on high yield and value stocks. This was a value stocks when I bought, which I thought I would turn with in a year for a nice margin profit. It didn't, but I have had good dividends along the way, and in profit.

But I never thought I would be buying a value stock that would become a high yielding stock and a growth stock.

Craziest of all, with absorption of MPNU, gas plant start up, demographics of Nigeria, transition to gas, this is more a value stock now than when I bought it. Guess I'll be here patiently, profitably for the next 10 years.

Really appreciate the comments/contributions /considerations here today. Thanks all.

Some excellent posts last couple of days. Much appreciated

Only another 216% required.......

The Trotsky; spot on with your reading of the RNS - the acquisition RNS makes it quite clear what the acquisition price is, and that there will be adjustments between the absorbed debt/cash consideration/share issuance. Today's RNS means more cash/debt issuance.

'The gross Acquisition value of $1,275 million.......Consideration is expected to be satisfied through the assumption of approximately $700 million of Maverick debt outstanding associated with its RBL, an ABS amortizing note and other outstanding credit, the issuance of approximately 21.2 million new U.S. dollar-denominated Diversified Ordinary Shares to the unitholders of Maverick valued at approximately $345 million at signing, and approximately $207 million in cash, with the mix of Ordinary Shares and cash subject to adjustment based on the outstanding amount of Maverick's RBL at Completion.

For context, in the 'safe' rail industry, there has been 8 deaths in the last 4 years....

The basher;

'what a load of tosh!' - thank you for perfectly describing the impatience for news flow, better than I ever could.

The basher; not short sighted at all. Just pragmatic.

Those having waited so long, another 6 months should be a breeze, surely? Modest display of frustration is totally understandable, but this constant hankering for news is less modest and more hysteria.

I stand by my comment. If one is so anxious for 'news' one shouldn't be invested here, irrespective of whether you've been here 5 minutes or 5 years.

Island girl: I've been here long enough to incur significant paper losses; been investing long enough in this, and stocks of it's ilk, to understand that you don't invest in any stock that preoccupies you, that will materially impact you. What don't I understand? It's singular importance to some investors here? Well that's not my poor understanding.

Personally I think the rationale of a combined entity is excellent, and yes, there is undoubtedly great synergies to be had.

What I can't get my head round is a company, AXL, with half the mkt cap taking over DWL. If one accepts the rationale/synergies of the combination, why aren't DWL taking out AXL?

That shouts lack of belief/confidence from the DWL mgmt. That AXL shareholders can't see what a bargain they are getting perplexes me too.

I can't fathom the impatience and constant hankering for updates prevalent here at the moment. 1) mining/establishing markets takes time and 2) you either believe in the prospect or you don't, and if you do, accept it will take time to come to fruition.

If people need a constant drip feed they shouldn't be invested in a £16m company, they should just invest in a unit/investment trust or an AV. type stock and watch the dividends flow.

The update expectations here are unrealistic. If you invested wisely, patience will be rewarded and enrichment forthcoming.

Full dividend